Coinme fined $300,000 for violating California crypto ATM laws

Bitcoin ATM operator Coinme has been fined by California regulators for violating new digital asset kiosk laws. Under a consent order, the company must pay $51,700 in restitution to affected users and a $300,000 administrative penalty, split into three installments.

The DFPI found that Coinme allowed transactions exceeding the $1,000 daily limit and failed to include exchange names on transaction receipts. Coinme is also required to revise its policies, submit compliance reports regularly, and cease the cited violations.